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Reuters
Published
Aug 17, 2009
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Metro looks east for growth over next decade

By
Reuters
Published
Aug 17, 2009


DUESSELDORF, Aug 17 (Reuters) - The world's fourth largest retailer Metro (MEOG.DE) has set its sights on emerging markets in Eastern Europe and Asia in its search for growth, giving the U.S. market the cold shoulder, its deputy chief executive said.

"The United States is currently not on our top-priority list," Thomas Unger told Reuters in an interview published on Monday 17 August.

"We will increase our exposure to Eastern Europe and especially to Asia, because that's where we see an enormous growth potential in the long term."

"We see great opportunities and challenges in Asia over the next ten years," said Unger, who started as deputy CEO this month, overlooking Metro's restructuring programme as well as its consumer electronics, department store and real estate businesses.

(Reporting by Eva Kuehnen and Nikola Rotscheroth)

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